The balance sheet of Ipod Corporation on December 31, 2024: Ipod Corporation BALANCE SHEET AS OF DECEMBER 31, 2024 Assets Cash $ 40,000 Accounts and notes receivable 30,000 Inventory 90,000 $160,000 Liabilities and Capital Accounts and notes payable $ 20,000 Common stock 100,000 Retained earnings 40,000 $160,000 These errors were made by Ipod on December 31, 2023 and were not corrected: Ending inventory understated $2,400 and prepaid expense of $1,000 omitted. On December 31, 2024, unearned revenue of $1,100 was omitted, and accrued revenue of $1,400 was omitted. The net income shown by the books for 2024 was $13,200. The correct 2024 Net Income is: Select one: a. $7,300 b. $12,300 c. $12,100 d. $14,900 e. $10.100